wraggster
August 4th, 2018, 22:02
Yesterday, rising Apple stock lifted the company to close the market with a value of $1 trillion. It is the first publicly traded US company to reach the milestone.
Apple stock has flirted with the record for months now, but a promising Q3 earnings report put the stock price over the edge, closing at $207.39 per share with an outstanding total of 4,829,926,000 shares. The stock saw a peak during the day of $208.38 per share.
The company saw a record net revenue in Q3 of $53.3 billion primarily led by sales of the iPhone, which totaled 41.3 million units over the period. Apple exceeded analyst and guidance expectations, seeing 17% YOY growth. In light of these results, Apple stock climbed around 9% from Tuesday to Thursday, seeing a 2.9% increase Thursday to reach the record.
In a memo to employees regarding the milestone reported on by Reuters (https://www.reuters.com/article/us-apple-stocks-trillion/apple-breaches-1-trillion-stock-market-valuation-idUSKBN1KN2BE), Apple CEO Tim Cook said, "Financial returns are simply the result of Apple's innovation, putting our products and customers first, and always staying true to our values."
https://www.gamesindustry.biz/articles/2018-08-03-apple-becomes-first-us-public-company-worth-usd1-trillion
Apple stock has flirted with the record for months now, but a promising Q3 earnings report put the stock price over the edge, closing at $207.39 per share with an outstanding total of 4,829,926,000 shares. The stock saw a peak during the day of $208.38 per share.
The company saw a record net revenue in Q3 of $53.3 billion primarily led by sales of the iPhone, which totaled 41.3 million units over the period. Apple exceeded analyst and guidance expectations, seeing 17% YOY growth. In light of these results, Apple stock climbed around 9% from Tuesday to Thursday, seeing a 2.9% increase Thursday to reach the record.
In a memo to employees regarding the milestone reported on by Reuters (https://www.reuters.com/article/us-apple-stocks-trillion/apple-breaches-1-trillion-stock-market-valuation-idUSKBN1KN2BE), Apple CEO Tim Cook said, "Financial returns are simply the result of Apple's innovation, putting our products and customers first, and always staying true to our values."
https://www.gamesindustry.biz/articles/2018-08-03-apple-becomes-first-us-public-company-worth-usd1-trillion